Sensex zooms 393 points, bank stocks rocket

Mumbai: A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), made healthy gains during the late-afternoon trade session on Monday. It gained 393 points or 1.45 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made healthy gains during the late-afternoon trade session. It was higher by 127.70 points or 1.59 percent at 8,319.20 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,249.42 points, was trading at 27,498.48 points (at 2.45 p.m.), up 393.09 points or 1.45 percent from the previous day's close at 27,105.39 points.

The Sensex has touched a high of 27,535.26 points and a low of 27,231.28 points in the intra-day trade so far.

According to Angel Broking, the Indian markets opened on a positive note tracking SGX Nifty and some of its Asian peers.

The brokerage firm said that the Indian markets had surged more than 1.5 percent during the last session, marking its best daily gain in four months after the government set-up a panel to suggest ways to resolve a tax dispute with foreign investors.

In Monday's trade, healthy buying was observed in banking, automobile, metals, healthcare, capital goods, consumer durables, information technology (IT) and oil and gas sectors.

However, stocks of fast moving consumer goods (FMCG) came under heavy selling pressure.

The S&P BSE bank index rocketed by 487.81 points, followed by automobile index zoomed by 454.32 points, metal index augmented by 310.06 points, healthcare index increased by 291.29 points.

The S&P BSE capital goods index was gained by 205.74 points, consumer durables index was rose by 120.06 points, IT index was higher by 101.21 points and oil and gas index was up by 80.14 points.

However, the S&P BSE FMCG index was down by 35.07 points.